2002 Chevrolet Malibu Insurance Rates – 7 Tips for Cheaper Quotes

Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Believe me when I say many consumers feel financially strained by their auto insurance policy. Many insurance companies vie for your business, and it can be difficult to compare rates and get the best coverage at the lowest price

It is always a good idea to compare prices yearly because prices are variable and change quite frequently. Even if you think you had the lowest price on Malibu coverage two years ago there is a good chance you can find better rates now. You’ll find quite a bit of inaccurate information about auto insurance online but we’re going to give you some excellent ideas to slash your auto insurance rates.

If you have a current car insurance policy or are looking for a new policy, you can use this information to shop for the lowest rates while maintaining coverages. Buying car insurance is not rocket science. Vehicle owners only need to know the most effective way to compare price quotes over the internet.

How to Compare Insurance Coverage

Finding lower insurance coverage rates doesn’t have to be difficult. You just need to take the time to compare rate quotes provided by online insurance companies. This can be done in just a few minutes using one of these methods.

  • One of the best ways consumers can analyze rates would be an industry-wide quote request form click to view form in new window. This form prevents you from having to do separate quotation requests for each company you want a rate for. One form will get you price quotes from all major companies.
  • A less efficient way to compare rate quotes is to take the time to go to each individual company website to complete a price quote. For instance, let’s assume you want to compare Liberty Mutual, Safeco and Travelers. You would have to spend time on each company’s site to input your insurance information, which is why the first method is more popular. For a handy list of car insurance company links in your area, click here.

Whichever way you use, compare identical coverages and limits with each company. If each company quotes different deductibles it’s impossible to determine the lowest rate for your Chevy Malibu.

Be sure to get all your discounts

Car insurance is not cheap, but discounts can save money and there are some available to cut the cost considerably. Larger premium reductions will be automatically applied at the time you complete a quote, but less common discounts must be specially asked for before being credited. If you aren’t receiving every discount available, you’re paying more than you need to.

  • Employee of Federal Government – Employees or retirees of the government can save as much as 8% on Malibu coverage with certain companies.
  • Defensive Driving Course – Successfully completing a course in driver safety could cut 5% off your bill if your company offers it.
  • Driver’s Ed – Make teen driver coverage more affordable by requiring them to enroll in driver’s education if offered at their school.
  • Life Insurance Discount – Larger companies have a discount if you purchase life insurance from them.
  • Discounts for Safe Drivers – Insureds without accidents may save up to 50% more on Malibu coverage than less cautious drivers.
  • Early Switch Discount – A few companies offer discounts for switching to them before your current policy expires. It’s a savings of about 10%.
  • E-sign – Certain companies may give you up to $50 just for signing your application over the internet.

A little note about advertised discounts, many deductions do not apply to the overall cost of the policy. Most only reduce individual premiums such as comprehensive or collision. Just because you may think it’s possible to get free car insurance, you’re out of luck. But all discounts will help reduce the cost of coverage.

For a list of providers offering insurance coverage discounts, click here to view.

How do I know if I need professional advice?

When choosing coverage, there really is not a cookie cutter policy. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For instance, these questions can aid in determining whether or not you would benefit from an agent’s advice.

  • Am I covered when driving a rental car?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Do I have coverage when pulling a U-Haul trailer?
  • Does my 2002 Chevy Malibu qualify for pleasure use?
  • Does medical payments coverage apply to all occupants?
  • How do I file an SR-22 for a DUI in my state?

If you can’t answer these questions then you might want to talk to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of insurance coverage companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.

Slick advertising tricks that work

Consumers constantly see and hear ads for the lowest price auto insurance from the likes of Allstate, Geico and Progressive. They all make the same claim of big savings after switching your coverage to them.

How does each company make the same claim?

All companies are able to cherry pick for the type of driver they prefer to insure. An example of a desirable insured could possibly be between 30 and 50, insures multiple vehicles, and has great credit. A customer getting a price quote who meets those qualifications will get very good rates and as a result will probably pay quite a bit less when switching companies.

Drivers who don’t qualify for the requirements will be quoted higher rates which leads to business going elsewhere. The ads say “drivers who switch” not “people who quote” save money. That’s the way companies can advertise the savings.

This emphasizes why you should get a wide range of price quotes. You cannot predict which company will provide you with the cheapest Chevy Malibu insurance rates.

Insurance coverage options for a 2002 Chevy Malibu

Having a good grasp of your insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverage types available from insurance companies.

Collision coverage protection

This coverage covers damage to your Malibu caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like driving through your garage door, hitting a mailbox, crashing into a ditch, hitting a parking meter and colliding with another moving vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. You can also raise the deductible in order to get cheaper collision rates.

Auto liability

This protects you from damage or injury you incur to other people or property that is your fault. It protects you against other people’s claims, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage protects against claims like pain and suffering, court costs, medical services, structural damage and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but buy as high a limit as you can afford.

Comprehensive coverage

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive can pay for claims such as a tree branch falling on your vehicle, hitting a deer, damage from a tornado or hurricane, fire damage and vandalism. The maximum amount your insurance company will pay is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP kick in for short-term medical expenses like doctor visits, EMT expenses, X-ray expenses and hospital visits. They are used to cover expenses not covered by your health insurance policy or if you do not have health coverage. They cover both the driver and occupants and also covers getting struck while a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist coverage

This coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Save for a rainy day

You just learned a lot of ways to shop for 2002 Chevy Malibu insurance online. The key concept to understand is the more companies you get rates for, the more likely it is that you will get a better rate. You may even discover the lowest premiums are with some of the lesser-known companies. They may have significantly lower rates on certain market segments as compared to the big name companies such as Allstate and Progressive.

Affordable insurance can be sourced on the web in addition to many insurance agents, so you should be comparing quotes from both so you have a total pricing picture. Some insurance providers do not provide online price quotes and most of the time these regional insurance providers sell through independent agents.

As you restructure your insurance plan, it’s a bad idea to reduce needed coverages to save money. There are a lot of situations where consumers will sacrifice comprehensive coverage or liability limits only to discover later that it was a big error on their part. Your goal should be to buy the best coverage you can find at a price you can afford while still protecting your assets.

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